Business News

(Best Syndication News) - Apple Inc. (NASDAQ:AAPL), announced today that their launch on December 14, 2012 of their Apple iPhone 5 in China has generated over two million units sold in just three days. By the end of the month, the Apple iPhone 5 mobile phones will have been made available in over 100 countries.

Tim Cook, Apple’s CEO, said that the demand for their iPhone 5 in China is incredible. It has set a new record for the company selling in China. He reiterated how important the Chinese market is for Apple.

The United States launch of the Apple iPhone 5 was also a record setter. The company reported they have sold over 5 million iPhone 5 devices in just three days after the launched on September 21, 2012.

(Best Syndication News) - Target Corporation (NYSE:TGT) announced plans to open a new store in Pomona, California. If all goes as planned, the store should open by October 2013. The Pomona store location is one of sixteen other Target store openings planned for next year.

The Pomona Target Store will be located on Rio Rancho Road and Auto Center Drive. In addition to their regular products, the store will have a grocery section with fresh produce, meats, and a bakery. Altogether, the store will encompass around 140,000 square feet.

(Best Syndication News) Mortgage interest rates dropped today in response to competition for U.S. government securities (see the mortgage rate charts below). PNC and the secondary lenders raised their rates; however Citigroup, Bank of America, and some other major banks went in the opposite direction.

Benchmarks

Gas prices dropped more than seven percent in November. The average price for a gallon of gas fell to $3.30. The lower energy prices contributed to lower consumer costs, according to the Bureau of Labor Statistics.

(Best Syndication News) Mortgage rates were higher in the United States today after the benchmarks continue to rise (see the mortgage rate charts below). Lenders, including SunTrust, KeyBank, HSBC, and U.S. Bank, raised their loan products.

Benchmarks

Little progress has been made concerning the fiscal cliff as both sides continue to debate the issues in public. House Speaker John Boehner said the President is unwilling to cut spending while Democrats blame the Republicans for not yielding on taxes. Every day the odds that there will be an agreement between the two sides diminishes.

Benchmarks

The stock indexes were mixed despite assurances from the Federal Reserve that they would continue to buy U.S. securities to keep interest rates low. Markets usually react positively to continued stimulus and easing, however all three major indexes jumped after the announcement but slowly dropped by the closing bell.

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